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Economic Buzz: Global manufacturing PMI scales up three-month high
04-Feb-2026 11:10
Global manufacturing witnessed a modest but encouraging start to 2026, according to PMI data sponsored by J.P. Morgan and compiled by S&P Global Market Intelligence. The headline global manufacturing PMI rose from 50.4 to a three-month high of 50.9, signalling a sustained, albeit subdued, improvement of business conditions for a sixth straight month. Although the index remains only modestly in expansion territory (i.e. above the 50.0 no change level), the ongoing resilience of the manufacturing sector in the face of heightened geopolitical tensions at the start of 2026 is itself encouraging. Some of the PMI's sub-indices also helped fuel some tentative optimism about the start of the year. In particular, the PMI's output index, measuring global factory production growth, started 2026 at its joint-highest since June 2024, matched by August 2025. New orders also edged higher at the fastest rate since February of last year, helped in part by a near-steadying of global export orders.

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